Mr. Mohan Vulimiri reports

NORTEC MINERALS ANNOUNCES PRIVATE PLACEMENT

Nortec Minerals Corp. has arranged a non-brokered private placement of up to 28 million units at a price of 2.5 cents per unit for gross proceeds of up to $700,000 pursuant to a discretionary waiver of the five-cent minimum pricing requirement granted by the TSX Venture Exchange. Each unit comprises one common share and one-half common share purchase warrant, entitling the holder to purchase one additional common share at an exercise price of five cents per common share for a full warrant for two years from the date of issue. The units will be distributed to shareholders in accordance with the rules and regulations of the Securities Act and TSX-V policies.

The proceeds of the private placement will be for clearing the necessary arm's-length payables, including legal, auditing, accounting, filing fees, rent and outstanding payables for the work program in Guinea. The balance of the funds will be to start the initial work program on the Guinea Tomboko property, as recommended in the National Instrument 43-101-compliant report authored by Dr. Serigne Dieng, doctor of philosophy, Australasian Institute of Mining and Metallurgy, and continuing working capital, office, administrative, legal expenses and accounting services.

All shares issued will be subject to a four-month hold period from the date of issuance in accordance with applicable securities laws. Completion of this private placement is subject to the approval of the TSX-V. Finders' fees may be payable in connection with the placement.

Mohan R. Vulimiri, master of science, professional geoscientist, director and chief executive officer of Nortec Minerals, is a qualified person as defined by NI 43-101. Mr. Vulimiri has approved the corporate and technical content contained in this press release.

About Nortec Minerals Corp.

Nortec is a mineral exploration and development company based in Vancouver, B.C.

Nortec earned a 51-per-cent interest in the Tomboko gold project by incurring exploration expenditures of $1-million (U.S.) and completing phases 1 and 2 of the definitive option agreement entered into with The Golden Rule Mining Inc. in 2017.

The company has a 20-per-cent interest in the Tammela gold and lithium project in southwestern Finland.

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